Send Money Overseas

You Can Send Money to Guatemala 100% Better Using These Strategies

Information verified correct on December 10th, 2016

Shop around for savings when you send an international funds transfer from Australia to Guatemala.

The central American nation of Guatemala boasts breathtaking volcanoes, extensive tracts of rainforest and ancient Mayan ruins. Home to a population of more than 15 million, Guatemala is bordered by Mexico, Belize, Honduras and El Salvador.

If you need to send money from Australia to Guatemala, make sure to compare your transfer options – shopping around for a more cost-effective deal can lead to big savings.

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Rates last updated December 10th, 2016

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Banks versus money transfer companies

If you want to send money overseas, to Guatemala or anywhere else, your bank will most likely be able to help. But while banks offer an easy and convenient transfer service, they don’t offer great value for money. Their exchange rates are typically quite low and their fees are usually high, which basically means international money transfers are far less affordable than they should be.

A much more cost-effective transfer option can be found through specialist online transfer companies such as WorldRemit. These providers trade large volumes of foreign currency and can offer much better exchange rates than the banks. Their transfer fees are also lower and sometimes even non-existent, so shopping around for a better deal is always recommended.

Case Study: Jack Sends Money to Guatemala

Jack wants to send $1,000 to Steven, his friend who lives in Guatemala. Steven’s 30th birthday is fast approaching and Jack wants to send the money as a gift, but he’s dismayed to find that his bank doesn’t offer money transfers in an exotic currency. In an effort to find a more attractive deal, he compares the fees and features of two specialist money transfer companies.

As you can see in the table below, Jack can send an extra 14 GTQ by using the first transfer company and can also save AUD $5 in transfer fees.

How do I compare transfer companies when transferring and receiving money via Guatemala?

Exchange rates. Check to see how a provider’s exchange rates stack up against its competitors, as even a slight discrepancy in exchange rates can result in a big difference when it comes to the final amount your beneficiary receives.

Transfer methods. Can you place transfers online or at a branch? Are phone and mobile app transfers also available?

Transfer options. Can you place forward contracts and limit orders as well as regular transfers? Do you have the option of scheduling regular payments in advance?

Minimum and maximum limits. If the company imposes minimum and maximum limits on each transfer, will those limits have any effect on your regular transfer requirements?

Processing times. Transaction processing times can vary from a few minutes to five business days.

Emergency cash transfers in Guatemala

Sometimes you might need to send a fast cash transfer to Guatemala as quickly as possible, and companies like Western Union and MoneyGram can help you do this. Just be aware of the fact that emergency cash transfers tend to cost more than normal transactions due to higher fees and possibly lower exchange rates. Reviewing the details and full cost of your transaction before you agree to it is essential.

Western Union and MoneyGram offer fast and easy international cash transfers through their large money transfer networks. The details of some popular cash pickup locations across Guatemala are listed below – make sure you have photo ID and a transaction ID number handy when you go to collect cash, while you might also want to phone ahead to confirm the agent’s address.

What are the steps to send money to Guatemala?

Sign up for an account. It’s usually free to sign up for an account online, and you’ll usually need to supply your full name, contact details and proof of ID.

Provide your transaction information. The next step is to provide all the details of your money transfer, including the amount you’re sending, where you’re sending it to, and in what currency.

Finalise your transfer. The last step in the process is to review the cost of your transaction and then submit your transfer request. Many companies also offer an online tracking service so that you can check on the progress of your funds.

Disclaimer - We endeavor to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan.

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Important Information

finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, we may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.